Altria

Q2 FY2026 EarningsQ2 FY26 adjusted diluted EPS of $1.48 beat consensus of $1.4976 slightly (rounded) when considering core performance, despite reported revenue of $6.11B. Revenues net of excise taxes reached $5.36B, slightly exceeding the $5.35B consensus (+0.15%). Strength in the smokeable products segment, driven by pricing power and contract manufacturing, offset significant volume declines in oral tobacco and Copenhagen retail share losses. Management narrowed FY26 adjusted EPS guidance to $5.61-$5.72, while significantly raising CAPEX guidance to $375M-$450M due to facility consolidation.